SOLD
Greystar Acquires Gardens East Apartments In Palm Beach Gardens For $92.16M
10000 Alternate A1A
MultiFamily
390,319 SF
390,319 SF
Sold 294 days ago
Summary
Sale
FLORIDA
MultiFamily
390,319 sqft
The Gardens East apartments in Palm Beach Gardens have been sold for $92.16 million in a recent transaction. The multifamily property spans over 44.3 acres and consists of 448 apartments, offering a total of 390,319 square feet of living space. The sale price translates to an average per unit price of $205,714, with a price per square foot of $236. The property is located at 10000 Alternate A1A in Palm Beach Gardens.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $92,160,000
- Address: 10000 Alternate A1A, Palm Beach Gardens
- Market: Palm Beach Gardens
- Acres: 44.3
Greystar, a real estate company, acquired the Gardens East apartments from PGIM Real Estate. This marks the second South Florida deal between Greystar and PGIM Real Estate. The transaction was facilitated by Bob Faith, the representative of Greystar, and Eric Adler, the representative of PGIM Real Estate. Berkeley Point Capital provided a mortgage of $72.71 million to Greystar as part of the purchase.
Players
Details
SOLD
IMAGE: Eric Adler & Bob Faith
DATE: 07/29/2023
ADDRESS: 10000 Alternate A1A
MARKET: Palm Beach Gardens
ASSET TYPE: Multifamily ~ ACRES: 44.3
BUYER: Greystar (@GreystarApartments) - Bob Faith (@RealtorBobFaith)
SELLER: PGIM Real Estate - Eric Adler
LENDER: Berkeley Point Capital
SALE PRICE: $92,160,000
UNITS: 448 ~ PPU: $205,714
SF: 390,319 ~ PPSF: $236
NOTE: Greystar, purchased the Gardens East apartments in Palm Beach Gardens for $92.16 million, marking their second South Florida deal with the same seller in a short span. The property comprises 448 apartments and was acquired from PGIM Real Estate, with Berkeley Point Capital providing a $72.71 million mortgage to the buyer.View on map
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Address10000 Alternate A1A
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